Would You Buy This Stock?
Some stocks are true wealth builders. In truth you only really know if the stock is true wealth builder when there is a 5% to 15% sell off. When this happens it is your chance to see the buying frenzy, once you see that you know the stock float is in demand. Question is, now that we have just had a pullback of 16% in stock market, would you buy this stock??
When a stock behaves like this below, any system works, I mean anything you can dream up. When in fact the only system you need is 1x1 Gann angle drawn correctly on the chart, with the correct scale and a true understanding of the fundamentals that make the stock attractive.
Once you have a stock like this why, bother with the rest??
We expect this stock to bounce, but with all that is going on in the market, stops must be used as a break of the 1x1 angle would not be nice.
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